Square’s ‘mobile wallet’ valued at $3bn

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A “mobile wallet” company that recently carved out a deal for Starbucks to use
its payment system has been valued at more than $3 billion, it was reported
last night.

Square, a San Francisco company run by Jack Dorsey, a co-founder of Twitter,
has become one of the most sought-after start-ups in Silicon Valley after
developing a system that enables people to make payments with a credit card
reader on their mobile phone.

In addition to receiving a $25 million investment from Starbucks last month,
the company was given a boost this year when the election campaigns of
President Obama